Mursi to hold talks with Manmohan on trade ties

Egypt's President Mohammad Mursi to hold bilateral talks with PM Manmohan Singh, seeking to deepen relations with India and to make it a partner in Egypt's development.

NEW DELHI: Egypt's President Mohammad Mursi will hold bilateral talks with Prime Minister Manmohan Singh here tomorrow, seeking to deepen relations with India and to make it a partner in his country's development.

Mursi, who came to power after Egypt's first democratic elections last year, is likely to focus on betterment of trade ties besides boosting bilateral relations.

President Mursi will also address a business event organised by the apex chambers of commerce.

Mursi made a short stopover in Pakistan before his visit and officials said he is expected to be accompanied by 15 to 20 high-profile businessmen.

Mursi became President after the 30-year-old iron-clasp rule of former strongman Hosni Mubarak came to an end in February, 2011, following a series of anti-regime protests, known as Arab Spring.

On the economic front, bilateral trade has grown significantly and consistently in the past five years.

Trade between India and Egypt during the last financial year (July 2011-June 2012) increased by 33 per cent from USD 3.2 billion to USD 4.2 billion, leaving India with a trade deficit of about USD 350 million.